"Lower Tier" Big 6 vs Independents/Boutiques (Toronto)
Currently at a lower tier big 6 (Scotia/CIBC/National) in Toronto and having some mixed feelings. I don't feel like I'm getting the deal experience/exposure that I need in my junior years. The people in my group are nice but the culture/my fit within it definitely leaves things to be desired, and working at a big bank with a big analyst class isn't my favourite either.
I'm considering making a move to one of the better Canadian boutiques/independents (think CG, Cormark, maybe an Infor/Origin type shop too but not sure) as I think it could solve some of my problems (smaller deal teams = better experience, boutique = people are more close and slightly better WLB (?)). Globals are on the table as well of course but not as confident about those.
Wondering if anyone has thoughts or insights into how this would look...I get that I'd be losing the bank brand name and in a sense the "prestige", is this typically looked down upon or are the top independents roughly on par with the bottom of the Big 6 in the street's view? Any insights on how comp, WLB, deal flow/experience, etc. would be affected? I feel like I'd consider staying in IB for the long run if conditions are right so exits aren't as important but insights on that would be appreciated as well. Thanks in advance.
Are we just making up groupings now? Big 6?
nbf employees coping
If this is CIBC would honestly stay and ride it out for however long you can, but wouldn’t say the same for Scotia - have heard nothing good from current/past analysts and interns
Have you thought about switching groups? Or do all groups have bad dealflow...
Prestige only matters if you want to exit. Non of the MDs I worked with at "upper" big 6 (using your framework) looked down upon banks like CG, Cormark, or even Peters and Co.
That's not true, most MDs at RBC look down at the rest of the Canadian market.
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